condo: Is the CONDO too small already? - 05/11/12 10:19 AM
Is your place just too small? Maybe you bought pre construction. The location may have been suitable to you four years ago when you started working there. Maybe you bought with a certain family size in mind. Now you have plain outgrown it. I can do three things for you. I can help you release the equity you have in that beautiful loft or one bedroom plus den. I can help you find a more suitable property for you. I can help you with Bridge Financing to make sure you have the money going forward and that you don't have any problems with the … (1 comments)
|
condo: Did you claim an HST rebate on your Condo Purchase? - 04/28/12 03:22 PM
Yes, the real estate condo market is HOT! Yes, You can flip your unit for immediate profit! Yes, You can rent your unit! Yes, Revenue Canada; affectionately referred to as CRA is made aware of the transaction. HOW you ask? You pay Land Transfer Tax on your purchase; Tarion Warranties apply. Even in a Flip there are disclosures. You can sell your unit and claim the [HST] tax on closing or if you rent your unit and provide a copy of the lease; preferably you will pay the tax and request a rebate a year later. Personally, people try to slip … (1 comments)
|
condo: Mere Listings Toronto MLS - 04/07/12 05:52 AM
How would you answer this question?
Subject: MERE FSBO listing
I have a commercial/retail/industrial property that I would like listed on the MLS and was wondering how much you charge to do that?
I said ---Depending on location, sale ability and pricing I would be pleased to list the unit for you. Commissions are negotiable and competitive at 1.5 % to list, Commission to Selling broker is at 2.5% as a norm.
Today this response:
I am not looking for an agent to represent my property. I am looking for a broker that will give me a MERE FSBO … (2 comments)
|
condo: New and Improved Toronto Islands - Sunnyside at Humber Bay - 04/04/12 07:40 AM
What a fabulous addition to the Toronto Humber Bay Shoreline! All the condos along Lake Shore Blvd ( Marine Parade ) will now have additional man made islands at the mouth of the Humber River Bridge towards Sunnyside! * View Larger Map The string of islands would go in at the mouth of the Humber River and extend about one kilometre from shore. The plan would take clean fill from construction jobs to build a solid earth barrier underwater that would deflect polluted Humber River water out into the lake and away from Sunnyside Beach.Above the water, the feature would look … (0 comments)
|
condo: Does HST Apply To A Seller Of A Condo Flip (Assignment)? - 03/29/12 06:35 AM
Inevitably, an offer to purchase an assignment property (often on an OREA form 140 or 141) by a buyer's sales representative will state that, if applicable, HST is included in the purchase price (as we typically see in any offer to buy resale residential properties). The sales representative who represents a seller of an assignment (and who is advising the seller) MUST be aware that according to the Canada Revenue Agency, there are sometimes situations where HST will, in fact, be applicable and payable by the assignor/seller who is assigning a contract to buy a newly constructed unit/residence.
When applicable, HST will … (0 comments)
|
condo: How are Toronto condo Fees Calculated? - 03/26/12 06:23 AM
Q I do agree regarding the 20% of fee to be put into reserve fun, however, as a past condo owner, my question is where does the rest of money go? Our condo, new, started with $650.00 mon. fee and by third year was over $850.00, for 1100 sq. ft. No concierge full time, a party room you wouldn't want to place your pet in, small workout room topped with an obnoxious, bully of a pres. of the board. Boutique condos such as the one we owned are nice, but costly on the fees.
A Condo buildings are like a small business … (0 comments)
|
condo: Increase Reserve Fund Minimums to 20% Toronto Condos - 03/25/12 08:09 AM
Condo Boards try to keep maintenance fees the lowest possible to spend the least amount of money. Unfortunately although well meaning it is misguided when 8 - 12 or 15 years later money is required and the Reserve Fund is in adequate. This results in borrowing additional money for specific repairs (requires a vote by a majority of owners) or a Special Assessment. Lawyer Derrick Fulton, an expert in condo law, said one major problem area is the Act’s requirement on reserve funds; currently, 10% of common element fees must go into a reserve, but he believes that number should be … (1 comments)
|
condo: Your First Year of Condo Life - 03/09/12 03:35 PM
Lets Chronicle your First Year of Condo Ownership - Now you really have questions. You made a selection a few years back that you thought would suit your lifestyle and moving into the future. You made a wise selection based on where you would be working near transit and community hubs. The Builder /Developer has served notice that a Turn over Meeting will be held in a Hotel and or Meeting Room (unless your Rec Center is indeed able to hold all the residents) and hopefully the majority of residents will attend. An invitation was made by the Management Company … (2 comments)
|
condo: You have 10 days to examine your Condo Contract - 01/16/12 12:15 PM
David Pylyp: With Shadi Nasseri a Toronto condo Law Specialist, When you buy a condominium from a builder developer there is a cooling off period correct? Shadi Nasseri: Yes, You actually have a limited time to have your condo agreement of Purchase and Sale revied by a lawyer. Its called the Rescission Period, and usually its 10 (ten) days from the day that you signed the Agreement of Purchase and Sale. This also includes Holidays and weekends! Usually, so... Make sure that you get to a lawyer, contact a lawyer, to review the agreement as soon as possible. David Pylyp: What … (0 comments)
|
condo: Toronto Forecast 2012 Real Estate - 12/29/11 03:23 PM
Will we have the sky rocketing interest rates? Will the Toronto Condo Bubble Burst? How is our unemployment rate? The global scandals and economic meltdown of entire nations was not shared by Canadians.
The Canadian housing market has demonstrated tremendous resilience in recent years, but 2011 stands out. Instead of responding to economic concerns both here and abroad with a retreat in sales and prices, residential real estate markets actually experienced an upswing in the volatile third and final quarters. While clearly not impervious to the impact, Canadian consumers are intent on making their moves now, in advance … (0 comments)
|
condo: Toronto's Explosive Condo Growth - 10/05/11 12:22 PM
Toronto is indeed the condo building capital of North America!
There are currently 132 highrise buildings under construction in Toronto, according to the figures. Mexico City ranks a distant second with 88 and New York City is in third with 86. The field drops off dramatically after that: fourth-ranking Chicago is building 17 highrises, while Miami rounds out the top five with 16.
Emporis defines a highrise building as between 35 and 100 metres high, or 12 to 40 floors. Buildings taller than that are considered skyscrapers.
Toronto already has the second-highest number of completed highrises and skyscrapers in North America, with 1,875 … (1 comments)
|
condo: 20 Million stolen from Condo buildings But who is responsible - 09/26/11 11:29 AM
When you found out.... They are already gone. In the papers they call it an alleged Misappropriation of funds. It's a theft. A well planned and choreographed theft with many players. It needed multiple players to turn a blind eye or an ignorant eye to the theft. Who would you like to blame? Here's the background.
The total misappropriation may top $20 million. Several buildings have filed civil suits against Channel and Khan, who is thought to have fled the country. Police are investigating.
Some condo corporations allege Khan forged signatures and created fake meeting minutes to register a … (0 comments)
|
condo: Giving you cash back to buy with me - 08/15/11 07:07 PM
Lets talk about giving you cash back on your Toronto home purchase
Everyday we are bombarded by countless offers from a wide variety of business. And if those businesses are online, they may be selling lots of sizzle. I have seen amazing claims, garish campaigns, ads and other marketing tactics selling shiny, glossy, exciting, fabulous things where it was clear that the majority of the attention was put on the sizzle.
Sizzle may land you a customer once, but if you don’t have the steak, those buyers don't come back and they won’t tell anyone else to come back with … (0 comments)
|
condo: How to handle a Multiple Offer - 06/29/11 09:38 PM
This is an interesting topic from Mark Weisleder on Bidding up offers and multiple offer protocol. Simply put the ethics and logistics of how and why one offer is selected over another.
http://www.moneyville.ca/article/1013066--caught-in-a-bidding-war-know-the-rules Most sellers will instruct their agent to tell this anxious buyer to wait until the proper time period. However, if the seller wants to consider the offer, their agent will then change the information on the MLS listing immediately to notify every other agent that the rules have changed, and that offers can be submitted that evening. The agent will also likely call every other agent who … (2 comments)
|
condo: Will you Buy or Continue to rent? - 01/24/11 09:57 AM
Will you rent or will you buy? Interest rates on savings at your Bank? 1 - 1.5% annually Average rental on a two bedroom with den Two full bath? $1,800 With the interest rates hovering around 3.89 - 4.09 % five year fixed; yes we would all like to have the variable at 2.35% .
Expected rate of annual value increase? I would use 4%
Try it and tell me. How did your model work?
Lets get you started. … (0 comments)
|
condo: Men and Women are different! - 01/10/11 12:06 PM
Kim Kargus was recently divorced and looking for a home to buy for herself and her daughter. The 36-year-old child protection worker loved the look of a three-bedroom house in Cobourg, but was a bit nervous about putting in an offer. She had always rented and was concerned about taking on the debt, a mortgage and the day-to-day responsibilities, from plumbing to electrical, of home ownership.
“When you are renting and something goes wrong, you can call your landlord to come and fix it. But when you buy a house, it all falls on you,” she says. After doing some … (1 comments)
|
condo: Online Reputation not just for people - 01/02/11 10:25 AM
Buying Preconstruction is commiting to a goal and a dream. New Condominiums are selling Imagination and Hope. Developers Selling Sizzle, Builders selling the new lifestyle where you will enjoy the multi purpose recreation facilities, affluent portico and vestibules, guests will be wowed and greeted in the lobbies, interact with your new neighbours that all share your lifestyle and vision of affluence on the roof top lounge. These spectacular presentations are made at sales centers with furnished and staged suites, scale size models, draperies and lavish upgrades; showing you what might be; VIP openings with celebrities, wine and cheese soirees with music. … (2 comments)
|
condo: So Many New ways to promote your Home - 09/22/10 06:35 PM
There are so many opportunities and tools to promote your property for sale as well as connect with new families that are considering Toronto as their home. Today it is not just about a sign in your front lawn and an MLS listing. With the market sensitivities we need an exact proper price, professional marketing, superior presentation, savvy negotiation and an experienced hand showing you the options available to you. The newest Twitter Tool Twitvid.com is displayed with a few of my video's rebroadcast.
If you are considering the trade of a property this year in west Toronto, Etobicoke or … (2 comments)
|
condo: Let's Make some Toronto style Lemonade - ShopTOism - 01/19/10 02:02 PM
Welcome to the Toronto Real Estate Boards stats for mid January 2k10. We have entered into a very unusual market. We are starting this year firmly as a seller’s market. With an absorption rate in excess of 50%, on a monthly basis, multiple offers will continue on the most demanded products namely starter entry level homes and smaller condos. The real story continues to be the reduced number of homes for sale coupled with a continued demand from nervous buyers looking for that first great starter home. Currently there are 11K homes for sale. That inventory level is thousands of units … (2 comments)
|
condo: Flipping your Toronto Condo - Things to know - 03/04/09 04:23 AM
So many people have bought condos that are not yet built, and are trying to flip them by assuming they can merely assign the contract from the builder. Yes, there may be an assignment fee but there are other considerations.
Stan Gelman is a local lawyer for Etobicoke and Mississauga. Stan can be reached at 905 270 5110 or through his website http://WiseLawyer.ca sgelman.sglaw@rogers.com
I welcome your comments and questions.
… (0 comments)
|
;)
;)
;)
